How much oil is left in arab countries
Back in the 1970s Sheik Yamani, the Saudi oil minister, commenting on oil shortages of the time said “ The Stone Age did not end because they ran out of stones.” What he meant was that the Oil Age would end when something better comes along, not w With an average output of 26.3 million barrels per day in 2011, the Arab world produces nearly a third of world oil supply. Oil reserves in the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) are among the cheapest in the world to find, develop, and produce (with the exception of those in Oman).